“The development of the Keystone XL Pipeline is something that, we believe, would bring a great deal of prosperity to both the United States and Canada,” said Amgad Shehata, chairman of the Canadian American Business Council (of which CNR is a member) earlier this week. “Creating a reliable and, most of all, secure, source of energy that is truly North American is something that will help stimulate recovery on both sides of the border.”

The Keystone XL pipeline would be operated by the Canadian company TransCanada, and would carry oil from northwest Canada to the U.S. Gulf coast in Texas. The portion of the pipeline crossing the border between the countries requires the Obama administration’s approval to move forward.

The only positive action Obama has taken thus far is to announce his support for the southern portion of the pipeline running from Oklahoma to Texas, the construction of which does not require presidential approval.